Rhea
(Student CA Final )
(633 Points)
Replied 19 January 2016
We often assume that we did a question correctly and will get almost full marks for it, but ICAI won’t give you 100% marks in any question unless your answer is perfect in every sense.
For instance, there is difference between :-
‘As per rules, cash payments exceeding Rs. 20,000 shall be disallowed but the given case is an exception.’
And
‘ As per Section 40(a)(3) of Income Tax Act, 1961, any payment made otherwise than through an account payee cheque exceeding Rs. 20,000 for a single day is not allowable as an expense. However, Clause __ of Rule 6DD states _____________. Therefore, the expense shall not be disallowed in given case.’
If you write in the latter manner, you may expect 80-100% marks. But if it’s the former, they won’t give you over 50% of maximum marks in any case.
I think they don’t deduct that many marks for not mentioning sections etc. in Law, but in taxes, sections are very important.
Case laws are important only in the questions that are specifically based on case laws. Otherwise, I do not think they deduct marks for not mentioning them.
I expected between 50-60 and got 55. I only knew about 70-80% of the paper properly however.